8 Triggering Events That Get You In

Decisions to make a change are driven by emotion. And those emotions are often sparked by some triggering event.

Once those emotions are invoked, your odds of getting in as a new logo salesperson go way up. The same thing applies as a relationship manager if your client is using a competitive product elsewhere. Your chances of them doing a comparison with your offering also improve dramatically.

So what are some of these triggering events that we want to be on the lookout for? Here are 8 of them:

Competitor sunsets their system – A software provider announcing that they’re going to stop enhancing and stop supporting an application can be devastating to their clients. Especially if it’s unexpected. They have to decide to ride it out for as long as possible or incur the costs of changing to a new system. Many feel betrayed. There may be no better time to get in the door than this situation. Logically it make sense to look at options and most times their emotions are quite high.

Competitor’s financial position worsens – In the tech space, public companies that suffer financial losses often start making reductions in force and/or new development. Even if their clients don’t feel the impact immediately, eventually they will. Things snowball. Support calls take longer. They may lose a favored relationship manager. Product enhancements are less frequent. Savvy clients know this is the time to start planning for contingencies. And it’s our job to help them become savvier. 

Release of your new differentiated product – Clients will live with a less than ideal solution when it’s still their best overall option. Or when it’s not available from any solution provider. But the world changes when you come out with something no one else has that addresses a major pain point or revenue opportunity for them. That can be just enough to open up the door to a discussion.

Competitor’s change in emphasis – When a competitor enters a new market or starts emphasizing different segments, it can have an impact on their clients. Monies tend to gravitate toward the new or those with higher growth potential. Sometimes their best people shift too. Clients usually feel the ship but may not be able to put their finger on it. Maybe they were treated like royalty before and now feel taken for granted. The level of dissatisfaction will vary widely and it will determine whether you have a near-term opportunity or not.

Competitor’s Relationship Manager change – Sometimes the client’s most important relationship they have with a software company is with their relationship manager. They’re the person they most trust, the one who fights for them, the one who goes out of their way to support them. And when that person retires, gets promoted, transferred or fired, it stings. The replacement isn’t always of the same caliber or experience level. The client may see this as the start of the overall relationship going downhill giving you the opportunity to get in.

Change in prospective client’s direction – When the prospect decides to change direction, to put more emphasis in a new market, their current solution may not be able to handle their new needs and wants. If yours does, it can offer you the chance to get in.

Competitor’s major price increase – Unless the client sees your market’s offerings as a commodity, price is rarely the number one decision criterion. But when a competitor has a major price increase, their clients do take notice. They start re-evaluating the value equation. Most of the time they’d rather stay with the competitor and negotiate a lower rate. Most vendors cave, but occasionally the vendor will hold their ground, opening up the opportunity for other solution providers. The problem with this situation, of course, is those who buy based on price will also leave you based on price.

Straw that broke the camel’s back – Lastly, it’s not always one major triggering event that leads to an opportunity. Sometimes it’s a series of smaller events that all add up to enough dissatisfaction that the client says, “Enough!” Continuing service problems, un-kept promises and other irritants can hit a threshold for any client and at that point they will look at other options.

Well there you go. Hopefully this list will spark some new ideas for getting in messages and create some new opportunities for you.

Have a great week,

Bob

P.S. Step-by-step processes for how to do all of these and more are part of my “Getting In” mini-course. As they say in baseball, it’s hard to get a hit if you don’t get up to bat. This course will help you get up to bat more often and build the top of your funnel. Contact me [email protected] for details if you’re interested.